FMCC Federal Home Loan Mortgage Corporation (QB)

By Imani Moise

Average fixed mortgage rates in the U.S. rose in the latest week, according to mortgage-finance company Freddie Mac.

Freddie Mac Chief Economist Sean Becketti said in prepared remarks Thursday increasing inflation, continued gains in the labor market and potential future rate hikes by the Federal Reserve will keep pushing mortgage rates up this year.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 4.3%, compared with 4.21% a week earlier and 3.73% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.5%, compared with 3.42% the previous week and 2.99% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, were at 3.28%, compared with 3.23% the previous week and 2.93% a year earlier.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

March 16, 2017 10:15 ET (14:15 GMT)

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